Commodities

Midday update for Crude oil 15-04-2019

2019-04-15 10:01:03 GMT (Economies.com)

Crude oil price returns to test the key support 63.30 now, which represents the neckline of the double top pattern that its signs appear on the chart, which urges caution from the upcoming trading, as confirming breaking this level will put the price under negative pressure that targets testing 61.00 areas before any new attempt to rise.

 

Until now, we will keep our bullish overview supported by stochastic positivity besides the EMA50 meet 63.30 support line, conditioned by the price stability above this level, reminding you that our targets begin at 64.90 and extend to 67.00 after breaching the previous level.

 

The expected trading range for today is between 62.50 support and 66.00 resistance.

 

The expected trend for today: Bullish

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